Morris Financial Concepts Inc. Buys Shares of 667 Salesforce, Inc. (NYSE:CRM)

Morris Financial Concepts Inc. purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 667 shares of the CRM provider’s stock, valued at approximately $223,000.

Several other large investors have also recently modified their holdings of CRM. RBA Wealth Management LLC raised its stake in shares of Salesforce by 3.7% during the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after acquiring an additional 574 shares during the last quarter. CX Institutional raised its stake in Salesforce by 2.0% during the third quarter. CX Institutional now owns 5,637 shares of the CRM provider’s stock worth $1,543,000 after buying an additional 110 shares during the last quarter. Creative Planning lifted its stake in shares of Salesforce by 8.0% in the 3rd quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock valued at $63,978,000 after purchasing an additional 17,350 shares during the period. Regatta Capital Group LLC boosted its position in shares of Salesforce by 3.3% during the 3rd quarter. Regatta Capital Group LLC now owns 6,453 shares of the CRM provider’s stock valued at $1,766,000 after purchasing an additional 204 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its position in shares of Salesforce by 3.7% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 51,281 shares of the CRM provider’s stock worth $14,765,000 after buying an additional 1,846 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. Insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.6 %

NYSE CRM opened at $326.26 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $338.74 and its two-hundred day simple moving average is $301.96. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $312.23 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRM. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. DA Davidson increased their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Bank of America increased their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $377.63.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.